A key for the above chart to define the horizontal lines and dots. For further explanation, see this link:
Didn't take the two trades that mattered today (1 really)
The only bearish development is this higher time frame where the fast line is rolling over underneath the slow line (2b-2c potential). Looks like it can go either way into tomorrow, but plenty of support below.
Even on the higher time frames, there are slight divergences showing up (though price can still squeeze higher), it just feels like a sneeze can give us at least a whopping 1-2% correction.
The thing is, we're heading into double-top territory, and the odds favor the bears on a first test of a previous highs, the Risk:Reward just favors that direction. You would think, as stretched as we are, that a rejection would be pretty strong (irregardless of whether we come back to test the rejection and/or build a base at it.
The other side is we blow right through these levels, forcing more and more shorts to cover and end up with a climax high after being very stretched